Pierce Delivers 12 Industrial Firefighting Vehicles To Venezuela

Mar 1, 2010

Pierce has sold 11 industrial firefighting vehicles and one rescue vehicle (not pictured) to Petróleos de Venezuela, S.A. (PDVSA) for emergency response and protection at key refinery and storage facilities.

Appleton, Wis. (February 25, 2010) – Pierce Manufacturing, an Oshkosh Corporation (NYSE:OSK) company, announced today that it has delivered 12 vehicles - one rescue, one aerial platform and 10 industrial pumpers - to Petróleos de Venezuela, S.A. (PDVSA) through three contracts. All 12 vehicles will be placed into service beginning in March 2010. The total value of all three contracts is more than $15 million.

“Pierce industrial firefighting apparatus are among the most advanced and powerful in the world, and they will provide PDVSA refineries and plants with a new level of emergency response and protection,” said Wilson Jones, Oshkosh Corporation executive vice president and president, Fire & Emergency. “These landmark contracts represent a significant achievement as Pierce continues to grow its brand in South America and throughout the world. We’re excited to have Pierce custom apparatus on duty at key oil and gas facilities throughout Venezuela.”

All 12 apparatus are built on the Pierce Arrow XT™ custom chassis. Each is equipped with a 515 hp engine, plus patented TAK-4® independent front suspension and Pierce’s exclusive Side Roll Protection system for increased maneuverability and enhanced safety. Pierce’s Venezuelan dealer, Inte, C.A., will handle equipment needs and provide local support.

The purchased fleet includes 10 industrial pumper and tanker apparatus that are individually equipped to meet a wide range of firefighting scenarios. These pumpers feature single stage pumps that range from 7567 lpm (2000 gpm) to 11,353 lpm (3000 gpm). All of the pumpers feature Pierce’s proprietary Husky 300 industrial foam system and one features a 454kg (1,000 lb) dry chemical system. On the tankers, tank sizes range from 1892 liters (500 gallons) to 15,137 liters (4,000 gallons).

The sale also includes a 25.9-meter (85-foot) aerial platform with an 11,353 lpm (3000 gpm) single stage pump, Husky foam system and a 7567 lpm (2000 gpm) monitor.

The sale also includes a single Pierce Heavy Duty Rescue vehicle wth a 6.85-meter (22.5 foot) body length and 249 cm (98 inch) body height. This fully-outfitted rescue apparatus is equipped with slide out and tilt down adjustable trays; custom tool boxes; nine SCBA bottle storage; a breathing air cascade system; telescoping, scene and perimeter lighting; a 40kW generator; and a variety of hydraulic tools.

Petróleos de Venezuela S.A., the state-owned corporation of the Bolivarian Republic of Venezuela, is responsible for the efficient, profitable, and dependable exploration, production, refining, transport and commerce of hydrocarbons.

®, ™ All brand names referred to in this news release are trademarks of Oshkosh Corporation or its subsidiary companies.

About Pierce Manufacturing

Pierce Manufacturing Inc., an Oshkosh Corporation [NYSE: OSK] company, is the leading North American manufacturer of custom fire apparatus. Products include custom and commercial pumpers, aerials, rescue trucks, wildland trucks, minipumpers, elliptical tankers, and homeland security apparatus. In addition, Pierce designs its own foam systems and was the first company to introduce frontal airbags and the Side Roll Protection system to fire apparatus. To learn more about Pierce visit www.piercemfg.com

About Oshkosh Corporation

Oshkosh Corporation is a leading designer, manufacturer and marketer of a broad range of specialty access equipment, commercial, fire & emergency and military vehicles and vehicle bodies. Oshkosh Corporation manufactures, distributes and services products under the brands of Oshkosh®, JLG®, Pierce®, McNeilus®, Medtec®, Jerr-Dan®, Oshkosh Specialty Vehicles, Frontline™, SMIT™, CON-E-CO®, London® and IMT®. The Oshkosh brands are valued worldwide in businesses where high quality, superior performance, rugged reliability and long-term value are paramount. For more information, log on to www.oshkoshcorporation.com.

®, ™ All brand names referred to in this news release are trademarks of Oshkosh Corporation or its subsidiary companies.

Forward-Looking Statements

This press release contains statements that the Company believes to be “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. All statements other than statements of historical fact, including, without limitation, statements regarding the Company’s future financial position, business strategy, targets, projected sales, costs, earnings, capital expenditures, debt levels and cash flows, and plans and objectives of management for future operations, are forward-looking statements. When used in this press release, words such as “may,” “will,” “expect,” “intend,” “estimate,” “anticipate,” “believe,” “should,” “project” or “plan” or the negative thereof or variations thereon or similar terminology are generally intended to identify forward-looking statements. These forward-looking statements are not guarantees of future performance and are subject to risks, uncertainties, assumptions and other factors, some of which are beyond the Company’s control, which could cause actual results to differ materially from those expressed or implied by such forward-looking statements. These factors include risks related to sustaining the required rate of production for the M-ATV contract and the amount, if any, of additional orders for M-ATVs that the Company may receive; the cyclical nature of the Company’s access equipment, commercial and fire & emergency markets, especially during a global recession and tight credit markets; the duration of the global recession, which could lead to additional impairment charges related to many of the Company’s intangible assets; the expected level and timing of U.S. Department of Defense procurement of products and services and funding thereof, risks related to reductions in government expenditures, the potential for the government to competitively bid the Company’s Army and Marine contracts and the uncertainty of government contracts generally; the consequences of financial leverage associated with the JLG acquisition, which could limit the Company’s ability to pursue various opportunities; risks related to the collectability of receivables during a recession, particularly for those businesses with exposure to construction markets; risks related to production delays as a result of the economy’s impact on the Company’s suppliers; the potential for commodity costs to rise sharply, including in a future economic recovery; risks associated with international operations and sales, including foreign currency fluctuations; and the potential for increased costs relating to compliance with changes in laws and regulations. Additional information concerning these and other factors is contained in the Company’s filings with the Securities and Exchange Commission. All forward-looking statements speak only as of the date of this press release. The Company assumes no obligation, and disclaims any obligation, to update information contained in this press release. Investors should be aware that the Company may not update such information until the Company’s next quarterly earnings conference call, if at all.